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Moa Group fiscal H2 loss narrows YOY

Moa Group Ltd. said its normalized net income for the fiscal second half ended March 31 amounted to a loss of 3 New Zealand cents per share, compared with a loss of 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NZ$1.6 million, compared with a loss of NZ$1.8 million in the prior-year period.

Total revenue increased 13.9% on an annual basis to NZ$3.6 million from NZ$3.2 million, and total operating expenses rose from the prior-year period to NZ$6.1 million from NZ$6.0 million.

Reported net income totaled a loss of NZ$2.4 million, or a loss of 5 cents per share, compared to a loss of NZ$2.8 million, or a loss of 9 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 8 cents per share, compared with a loss of 11 cents per share in the prior year.

Normalized net income was a loss of NZ$3.3 million, compared with a loss of NZ$3.4 million in the prior year.

Full-year total revenue rose 31.8% from the prior-year period to NZ$6.1 million from NZ$4.6 million, and total operating expenses rose 14.1% on an annual basis to NZ$11.5 million from NZ$10.1 million.

The company said reported net income totaled a loss of NZ$5.6 million, or a loss of 14 cents per share, in the full year, compared with a loss of NZ$5.8 million, or a loss of 19 cents per share, the prior year.

As of May 28, US$1 was equivalent to NZ$1.40.